SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 19, 1996
Union Financial Bancshares, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-5735 57-1001177
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State or other jurisdiction Commission (I.R.S. Employer
of incorporation File Number Identification No.)
203 West Main Street, Union, South Carolina 29379
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number (including area code) (864) 427-1863
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On June 19, 1996, the Registrant announced that its Board of Directors
had declared a two-for-one stock split in the form of a stock dividend of 100%
on the Registrant's outstanding shares of common stock, payable on July 30,
1996 to stockholders of record as of the close of business on July 9, 1996.
For further information, reference is made to the Registrant's press release
dated June 19, 1996, which is attached hereto as Exhibit 99 and incorporated
herein by reference.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
UNION FINANCIAL BANCSHARES, INC.
/s/Dwight V. Neese
DATE: June 25, 1996 By: ___________________________
Dwight V. Neese
President
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EXHIBIT 99
Registrant's Press Release Dated June 19, 1996
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FOR IMMEDIATE RELEASE
Contact: Dwight V. Neese
President
203 West Main Street
Union, SC 29379-0866
(864) 427-1863
UNION FINANCIAL BANCSHARES, INC.
ANNOUNCES STOCK SPLIT
Union, South Carolina - June 19, 1996: Dwight V. Neese, President and Chief
Executive Officer of Union Financial Bancshares, Inc. announced today that the
Board of Directors declared a two-for-one stock split of the Corporation's
outstanding shares of common stock. Stockholders of record on the close of
business on July 9, 1996 will receive two shares of common stock for every one
share owned on that date. Cash will be paid in lieu of fractional shares.
In announcing the stock split, Mr. Neese stated that: "We are pleased to
announce this stock split, which hopefully will provide additional liquidity
in the Company's shares of common stock. Along with the formation of the
holding company in November 1994, this stock split represents another attempt
by the Board of Directors to strengthen the Company and position it for the
future".
Union Financial is the holding company for Union Federal Savings Bank,
headquartered in Union, South Carolina. Union Federal operates two
full-service branches, both of which are located in Union County, South
Carolina. At March 31, 1996, the Corporation had consolidated total assets of
$116.1 million and stockholders' equity of $12.2 million.
